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1. What if the size for each sample were increased to 20? Would a sample mean of 115 or more be considered unusual? Why or why not?
2. Why is the Central Limit Theorem used?
3. Consider situations in your work or home that could be addressed through a continuous probability distribution. Describe the situation and the variables and determine whether the variables are normally distributed or not. How could you change these to a normally distributed dataset?
Texas Company produces and sells 22,000 units of a single product. Costs associated with this level of production are as follows:
A study of 20 worldwide financial institutions showed the correlation between their assets and pretax profit to be .86. At the .05 significance level
List all samples of size 2, and compute the mean of each sample. Compute the mean of the distribution of sample means and the population mean. Compare the two values. Compare the dispersion in the population with that of the sample means.
Find a 90% confidence interval for the population mean salary of such personnel. What is the margin of error.
If a student is randomly selected what is the possibility that the student is male and from out of state.
A company is conducting a survey of 235 people to measure the level of interest in a new product. Assume that the probability of a randomly selected person's being "very interested" is 0.88
The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the follo..
Find out the test statistic P-value, and critical value, and state the final conclusion. The mean IQ score of statistic professors is less than 120. Sample data: n = 46. Suppose that = 17, and the significance level is = 0.05.
If he selects the three brands at random, what is the probability that he will select the following?
Of 900 consumers surveyed, 414 said they were very enthusiastic about a new home decor scheme. What is the 99% confidence interval for the population proportion?
A gambler has developed two strategies for betting in the game of blackjack. To test these strategies, he decides to go gambling on a casino boat.
Three automobiles are selected at random, and each is categorized as having a diesel (S) or a nondiesel (F) engine (so outcome are SSS,SSF,ect.) If X= the number of cars among the three with diesel engines, list each outcome in S and its associate..
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